Tesla Inc. (NASDAQ:TSLA) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday. The firm currently has a $374.78 target price on the electric vehicle producer’s stock. Vetr‘s price objective suggests a potential upside of 11.85% from the company’s current price.
TSLA has been the topic of a number of other reports. Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $193.00 to $464.00 in a research note on Tuesday, June 13th. Robert W. Baird reaffirmed an “outperform” rating and issued a $368.00 price objective on shares of Tesla in a research note on Tuesday, June 20th. Guggenheim lifted their price objective on Tesla from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Pacific Crest reaffirmed an “equal weight” rating on shares of Tesla in a research note on Tuesday, June 6th. Finally, Zacks Investment Research lowered Tesla from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $301.70.
Shares of Tesla (TSLA) opened at 335.07 on Thursday. The firm’s market capitalization is $55.04 billion. The company has a 50 day moving average of $348.29 and a 200-day moving average of $299.70. Tesla has a 12 month low of $178.19 and a 12 month high of $386.99.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $1.30. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.56 billion. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. Analysts predict that Tesla will post ($5.99) EPS for the current year.
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In other news, Director Kimbal Musk sold 2,500 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $315.67, for a total transaction of $789,175.00. Following the transaction, the director now owns 168,355 shares of the company’s stock, valued at approximately $53,144,622.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey B. Straubel sold 106,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $307.44, for a total value of $32,588,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 242,290 shares of company stock worth $74,919,505 in the last ninety days. Insiders own 23.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TSLA. FMR LLC boosted its stake in shares of Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock worth $6,804,556,000 after buying an additional 2,400,034 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock worth $3,792,025,000 after buying an additional 336,130 shares during the period. Vanguard Group Inc. boosted its stake in shares of Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock worth $1,651,654,000 after buying an additional 280,941 shares during the period. Jennison Associates LLC boosted its stake in shares of Tesla by 7.6% in the first quarter. Jennison Associates LLC now owns 2,869,480 shares of the electric vehicle producer’s stock worth $798,576,000 after buying an additional 203,034 shares during the period. Finally, Primecap Management Co. CA boosted its stake in shares of Tesla by 4.1% in the first quarter. Primecap Management Co. CA now owns 1,215,640 shares of the electric vehicle producer’s stock worth $338,313,000 after buying an additional 47,550 shares during the period. 63.78% of the stock is currently owned by hedge funds and other institutional investors.
Tesla Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
To view Vetr’s full report, visit Vetr’s official website.
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